Over the past month, we’ve seen music artists drop “tokenized” albums, digital art, and products. Now, Viberate proposes using NFTs (and the blockchain technology behind them) to manage secure live performance bookings.
According to their announcement, blockchain-based music research and analytics platform Viberate (whose native token VIB is listed on Binance, Bittrex, OKEx, and Uniswap) will be launching a special NFT featuring the rights to a live performance and other exclusive content by one of its founders, renowned Techno DJ and producer UMEK.
The drop will happen on April 29 in partnership with the Blockparty digital asset marketplace, and marks the launch of the world’s first “live gig NFT”. UMEK’s offer will include five different NFTs: three exclusive remixes of his influential 1999 track “Lanicor”, one livestream performance, and one live gig. The buyers of UMEK’s tokens will therefore purchase the rights to one of his original remixes, book him for an exclusive online event, or book him for a real-life live performance.
UMEK’s upcoming drop is the first to explore new possibilities for musicians to secure and manage their future bookings once live events return. Vasja Veber, Viberate co-founder and UMEK’s manager, explains further: “We’ve been actively involved in the crypto scene for the last several years. Our platform includes blockchain and we have our own token (VIB), so tokenizing the rights to a live performance seemed not only the logical next step in the evolution of NFTs, but also an exciting opportunity to explore how the live music industry could handle bookings in the future.”
Viberate and Blockparty plan to use the drop to test the entire “live gig NFT” concept. If it proves to be successful, Viberate plans on providing the option of gig token minting to nearly half a million music artists in its database, along with minting artist ID NFTs through a secure verification process. These ID NFTs will then act as a certificate of authenticity, reassuring the buyer that the contents indeed come from a verified artist, not someone offering other people’s work.
UMEK’s NFT drop will launch on Blockparty on Thursday, April 29, 2021, at 8:00 pm GMT+1 (3:00 pm EST).